Regional President Speech

/. ,-/ T / ^ /tp-io.Kt <j-'1 f i ' i^'-,'t_^>'i_i#i hr-^ fiderai» remua», w yagua, Mesura, amp the B á m » arana 1« Tb« relationship b*t*aaa iba Traaaory aaA the Owtral Baak* i. Research rspori oo th« goT*n»«at of th« Bude of Frano* asda ihr## yaara ago. ai aliar »tudiaa on Kai oh» bank, Baofc of foglaiad, aad ih* Fad«imi Basarre fly»t«a« B* Occidua ion at io proper relation »hip. X* Iba oantral baak aaat not r— In on Its CÜjaplan halfhta* a# Iapo»alblas Dm I Isa. b. Disastrous (1) Castrai bank would ba raorgs irisad» or (a) Qantral bank would ba ahaarad of ita authority («■- parlaría* in t¿» folta* »tata» foUawiaf 1933). a« A aantral baak should not ba aabaarriaBt* a# âafaty iafutilitgr* 3# Propar relationship •If the a*otral bank undarstanAa that it la It# fwurtloa to praaafit tha aooatajry polat of Tiaw oo «an sa* prohlaaa, aad if lâ had Attsaaadad ln okt>1a1ag a fair «oaaldarmtloa ii that poiaA of via* tbaa I thiak that it baa sskjrrad All ths lAdaMndtoaa tkat it kaTa* I tklak of the 1&» Aaaaadaaaac af a asafcx*al back i m i t^a i^LMáa^iM of aoa*tA¥7 prohlaaa aaA af acmj««* ia j*»f-kint tta:: TiWt't at «**» ia taraa of a traditivi liiiitsf re*p*ot of %ha {kjaanaMftt aad tha aahlAa A d vat ' al tk a# aku faaA tkaA It Msaraiaaa savanaMtal aoaaaa **A aal ba a II* fba perspective of ourr«nt probXaas. À« Tha Ooranaianti Absolarta^-to win ti» «x^ B. Tha Traanjtry. X» Abaoluta— to finaooa tba war. a* Cholea i ttatbod* of flnanoing* a# Taxatiom. b, Borroviag aavlafs fro® awrratíl inaoaa Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ■ 2“ o« Borrowing aocuaulated tarings. d. Borrowing fro* ooaaereiaX banks. e. Borrowing fro* tho Federal Reserve Buka* 0* tho Federal Reserve Syeten. X« Absolutei to mo that all necessary funds aro raised* 2« Restricted action« a« Taxation, (X) Advice with tho Treasury and Congress. b. Borrowing savings— both fro« current laoooe and ae- oumXatod« (1) Adwiee with Treasury or attractive issues. 3« Comparatively free action« a* All aaaber banks shall bo supplied with funds« XXI* Bvaluation of tho alternatives« A* Reduction of resort« requirements. B* Open aarkot pnrchasee. Direct purchase« Xiidied to %% biXlion« 6* Berroetag by a— bar beak»* Wmm *•£• m w preferential nj** Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Prie» of » a# ooopoB bond to /laid 3 por mb* to ■fctw'lV «X 30 ym ** “ W • » ■ • * 16 ]TNN * uO M a * • • • *10 3m n - 10A4Ä ii » * • • • A T••** ■ 103»«7 y* • • • • • » «V» ■ uw.» Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1942, December 3). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19421204_karl_r_bopp

@misc{wtfs_regional_speeche_19421204_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1942},
  month = {Dec},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19421204_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}